W11461 Carter St

Mentor, WI 54746

$69,900B

2 bd · 2.0 ba · 960 sqft · Built 2022 · SingleFamily · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $928/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$72
• HOA: −$0
• Vac / Maint / Mgmt: −$195
• Net cashflow: $295/mo
• Annual: $3,534/yr
• Cap rate: 11.35%
• Cash-on-cash: 18.06%
• DSCR: 1.80
• 1% rule: 1.33%
• Cash to close: $19,572

Investor read

• This is a 2-bed/2.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($928 rent vs $70k).
• It's been on market 27 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($483 loan paydown + $6k appreciation (8.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Alma Center School District (rural): math 33% / reading 29% proficiency, ranked #273 of 342 in WI (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 76 units permitted in Clark County in 2024 (0 in 5+ unit buildings).
• Clark County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.